Massive $10.21 Million BAN Deposit to Gate Raises Concerns Over Market Losses

Recent trends observed by COINOTAG News indicate significant movements in the cryptocurrency market. On February 24th, analytics from @ai_9684xtpa revealed that five distinct addresses, potentially linked to Gate’s hot wallet, executed deposits totaling $10.21 million in the asset BAN over the last hour. The deposits were made at an average price of $0.1016 per BAN. Notably, all BAN tokens from these addresses had been withdrawn from Gate merely two days prior, where they had an average disposal value of $0.133. Should these tokens be liquidated at the current market price, a substantial loss approximating $3.15 million would be incurred. This movement underscores the market’s volatility and the inherent risks associated with rapid trading activities.